Grammar Groan

[Perry]

Crafarms Could Sell to Chinese Group
Crafarms, the owner of some 30 farms mainly in the central North
Island, is seeking a buyer for its operations after being saddled with
fines and costs for effluent discharges and high debt levels.

Wonder who saddled them with the horse call High Debt Levels?

[[email protected]]

They were on TV tonight. 150 million in debt bu they are being unravelled by prosecution for bad farming practise. Biggest farm owners in the North Island according to the news. Sounds like they are being forced to sell by the banks.

[Perry]

Surely an injection of foreign
cowpital would suffice?

[muppet]

That's why the Chinese may be interested.

[Perry]

You man some added liquidity from
Chairman Moo's mates? USA Bonds
accepted?

[muppet]

Depends whether they ride tricycles with square wheels.

[muppet]

Crafar confirmed that the group owed more than NZ$150 million to two banks and a further NZ$25 million to PGG Wrightson Finance.
Asked what mistakes the family-owned farming group had made, he said: "We were too positive about the dairy industry and we misjudged the forces against us," he said.
Crafar said Crafar farms employed almost 200 people and produced half of one per cent of New Zealand's entire dairy output, which works out at around 60 million kilograms of milk solids worth NZ$250.3 million at the current expected payout of NZ$4.20 a kg.

[Bob Kane]

Sounds like we'll be better off with the Crafars gone.
They sound like fly-by-night, quick-buck shysters who blamed all their problems on their farm managers.
They got caught out by the credit crunch which shows they weren't in it for the lifestyle or love of cows.